Bitstamp has secured a MiFID MTF license from the Securities Market Agency in Slovenia, which also grants a EU passport to Bitstamp Financial Services.
Now authorized to offer crypto derivatives products, including perpetual swaps, Bistamp will be able to offer more sophisticated products to its institutional and retail customers.
Gain exposure to crypto without the need for direct ownership
Investors will be able to leverage Bitstamp to maximize capital efficiency when trading as well as gain exposure to crypto without the need for direct ownership.
MiFID is a financial regulatory framework in the European Union that covers stocks, securities, and derivatives and applies to trading platforms, investment managers, and investment banks.
The MiFID MTF license granted by the Slovenia regulator to Bitstamp is one of the first to be handed to a crypto exchange and also comes ahead of the go-live of EU’s MiCA regulation. The MiFID MTF license, however, allows Bistamp users to trade EU-regulated crypto derivatives.
The license underscores Bitstamp’s security and safety mechanisms, corporate governance, internal regulatory and anti-money laundering controls, and client protection as well as compliance with stringent capital requirements.
“One of the first cryptocurrency exchanges to be granted the MiFID MTF licence”
Jean-Baptiste Graftieaux, Global CEO of Bitstamp, said: “We’re immensely proud to be one of the first cryptocurrency exchanges to be granted the MiFID MTF licence. Not only is it a testament to our safety, security, trustworthiness and compliance – but it is also emblematic of the industry’s increasing maturity as a whole.
“With this license, Bitstamp will be able to offer derivatives products to investors, helping to usher in a trading ecosystem that supports a range of trading and investment strategies; including helping institutional investors achieve increased capital efficiency.”
Bitstamp was founded in 2011 and has become one of the most trusted and regulated cryptocurrency exchanges in the world.
Bitstamp expanded Bitstamp-as-a-service with Stripe integration
Bitstamp recently teamed up with Stripe to allow consumers across the EU to easily purchase cryptocurrencies directly. These are two of the most trusted and reliable fintech brands in the world. The crypto exchange pioneer joined forces with Stripe to support the financial infrastructure platform’s fiat-to-crypto onramp across the EU.
Stripe onramp is a customizable widget that developers can embed directly into their app or website, providing users with a seamless checkout experience optimized for cryptocurrency conversion. This allows near-instant settlement of crypto transactions.
Developers can integrate Stripe’s crypto onramp into their products with just a few lines of code, while Stripe and Bitstamp handle the underlying complexity. With this partnership, Bitstamp will manage the fiat currency to cryptocurrency conversion and transfers to consumers.
This integration represents an expansion of Bitstamp-as-a-service, further solidifying cryptocurrency’s role in the digital payments ecosystem. Stripe’s crypto onramp supports various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Stellar (XLM), and USD Coin (USDC).
Robinhood agreed to acquire Bistamp for $200 million
Robinhood Markets is planning to offer cryptocurrency futures to its customers in the U.S. and Europe later this year. The commission-free trading app will leverage the licenses of Bitstamp, which it agreed to buy earlier this year for $200 million, once the transaction closes next year.
Robinhood plans to introduce CME-based futures for Bitcoin and Ether in the U.S. However, a spokesperson for the company stated, “We have no imminent plans to launch these offerings.”
The acquisition of Bitstamp, expected to close next year, will allow Robinhood to use Bitstamp’s licenses to offer perpetual futures for Bitcoin and other tokens in Europe. These plans have not been publicly announced and come from anonymous sources, according to Bloomberg.
A crypto derivatives contract is a financial instrument whose value is based on an underlying cryptocurrency asset. It enables traders to speculate on price movements without owning the asset.
If Robinhood begins offering crypto derivatives, it will compete directly with Coinbase, which is already active in the crypto derivatives market.
